Waaree Energy Storage Solutions Pvt Ltd (WESSPL), a subsidiary of Waaree Energies Ltd, has announced the completion of a strategic funding round amounting to approximately ₹1,003 crore. The investment was raised from a group of strategic investors, including family offices, high-net-worth individuals, and institutional participants.
The fund raise forms part of Waaree Group’s planned capital expenditure of around ₹10,000 crore for setting up a 20 GWh advanced lithium-ion cell and battery pack manufacturing facility in India. The project positions WESSPL as a key player in the country’s fast-growing energy storage sector and supports national priorities around clean energy adoption and energy security.
The proposed facility will manufacture high-performance lithium-ion cells and battery packs for applications including utility-scale energy storage, electric mobility, and distributed energy systems. The expansion represents a significant milestone in Waaree Group’s integrated renewable manufacturing strategy and complements its established solar manufacturing operations.
With this investment, Waaree Group continues its transition into a fully integrated energy solutions provider, covering solar modules, inverters, batteries, energy storage systems, and emerging clean energy technologies. Strengthening domestic storage manufacturing capabilities will enhance the group’s ability to deliver end-to-end solutions critical for grid stability, higher renewable penetration, and large-scale decarbonisation.
Commenting on the development, Ankit Doshi, Director, WESSPL, said the successful fund raise reflects strong investor confidence in the company’s vision to build world-class energy storage manufacturing in India. He added that the capital will accelerate commissioning of the 20 GWh facility, strengthen domestic supply chains, and support growth in India’s energy storage capacity while contributing to local manufacturing, job creation, and technological advancement. The 20 GWh cell and battery pack plant is expected to play a central role in India’s efforts to expand domestic manufacturing of energy storage technologies and reduce reliance on imports.
Waaree Energy Storage Solutions Pvt Ltd is a subsidiary of Waaree Energies Ltd, focused on lithium-ion cell manufacturing and energy storage systems. The company aims to deliver scalable, high-quality storage solutions that support grid reliability, renewable energy integration, and the electrification of transport.
